Golden Agri's Q4 profit more than doubles

Singapore

HIGHER sales volume, coupled with a large tax credit, lifted the fourth-quarter earnings of Golden Agri-Resources. Its net profit for the three months ended Dec 31, 2016, leapt 136.7 per cent to US$46.3 million from the previous year, the group said on Friday.

Revenue jumped 37.8 per cent to US$2.14 billion from the previous year. The gain in revenue was due partly to production improving as the effects of El Nino ceased, it said. Earnings per share rose to 0.36 US cent, from 0.15…